Paris – 14 November 2025. Ubisoft Entertainment SA has taken the highly unusual step of postponing the publication of its half‑year financial results and asking Euronext to suspend trading of its shares and several bonds from the opening of markets on Friday, 14 November 2025, until those results are finally released “in the coming days.” [1]
The move, announced at the last minute on Thursday evening, has rattled investors already concerned about the French publisher’s weak share price, ongoing restructuring, and the health of flagship franchises like Assassin’s Creed and Far Cry. [2]
Key facts at a glance
- Results delayed: Ubisoft postponed the publication of its financial results for the first half of fiscal year 2025‑26, which were due on the evening of 13 November 2025. [3]
- Trading suspended: The company asked Euronext to halt trading of its shares (ISIN FR0000054470) and three bond lines (FR001400DV38, FR001400MA32, FR0014000O87) from market opening on Friday, 14 November, until the results are published. [4]
- No detailed public explanation: Ubisoft says only that the figures will arrive “in the coming days” and that it needs extra time to finalize the closing of the semester. [5]
- CFO’s internal memo: In an email to staff, CFO Frédérick Duguet said the halt is meant to “limit unnecessary speculation and market volatility” during the short delay. [6]
- Share price under pressure: Ubisoft’s Paris‑listed shares have fallen around 47–49% since the start of 2025 and closed at about €6.77 on Thursday; its US‑traded depositary receipts slid as much as 19% after the announcement. [7]
What exactly did Ubisoft announce?
In an official press release dated 13 November 2025, Ubisoft stated that it is postponing the release of its results for the first half of fiscal year 2025‑26. The company did not provide any quantitative guidance or revised timetable beyond promising publication “in the coming days.” [8]
At the same time, Ubisoft asked Euronext to halt trading of its shares and bonds from the opening of markets on 14 November 2025 and to keep the suspension in place until the company has published the delayed figures. Euronext confirmed the suspension on Friday morning, noting that it is effective “at the issuer’s request and until further notice.” [9]
French financial media including BFM Bourse/TradingSat, Boursorama and Le Monde all report that the move came after Ubisoft informed the market of the delay only the night before, with trading now frozen across the day on Euronext Paris. [10]
A last‑minute earnings delay that’s raising eyebrows
What has really unsettled investors is the timing. According to industry and financial press reports, Ubisoft was due to publish its half‑year figures on the evening of 13 November — and pulled the plug just minutes before the scheduled release. One outlet citing industry sources says the decision came roughly 15 minutes before publication time. [11]
A media briefing call with journalists and analysts, which Ubisoft’s CFO was supposed to host shortly before the results dropped, was also first postponed and then cancelled without public explanation. [12]
In corporate finance, postponing an earnings release on the day it is due is rare. Bloomberg’s recap (republished by Gadgets360) stresses that such last‑minute decisions typically heighten concerns around either operational setbacks, accounting questions, or looming strategic announcements that could significantly move the share price. [13]
What Ubisoft is telling employees
While public statements have been extremely terse, staff received a more detailed — though still carefully worded — explanation. Insider Gaming obtained an internal email from CFO Frédérick Duguet, in which he told employees that: [14]
- Ubisoft is taking extra time to finalize the closing of the semester, implying that the delay is linked to completing the accounts rather than a specific disclosed event.
- Because of legal and regulatory constraints, management cannot share more details internally for now.
- The company has requested a trading halt on Euronext in order to “limit unnecessary speculation and market volatility during this short delay” — a phrase echoed in the Bloomberg/BGadgets360 summary of the memo. [15]
Duguet also encouraged staff to listen to the future earnings call once results are finally released, suggesting management still intends to hold a standard post‑results briefing once the numbers are ready. [16]
Market backdrop: a bruised share price and a fragile publisher
The timing of this surprise only adds to a difficult period for Ubisoft:
- Share performance: Reuters and other outlets note that Ubisoft’s Paris‑listed shares are down nearly half since the start of 2025, putting the stock near multiyear lows even before Friday’s trading halt. [17]
- Job cuts and studio closures: Reporting from Le Monde highlights that since 2023 the group has been running a sweeping cost‑reduction plan, closing several overseas studios and shedding more than 2,000 jobs. [18]
- Project setbacks: Ubisoft has faced disappointing sales for major titles such as Star Wars Outlaws and has abruptly cancelled projects like its online shooter XDefiant, reinforcing the impression of a company struggling to convert big‑budget bets into reliable hits. [19]
- Heavy reliance on core franchises: The publisher remains dependent on a handful of flagship IPs — Assassin’s Creed, Far Cry, Rainbow Six and Just Dance — at a time when the broader AAA market is crowded and development costs are soaring. [20]
On top of this, Ubisoft is in the middle of a deep organizational overhaul. Earlier in 2025 it created a new subsidiary, Vantage Studios, to house the intellectual property of its three biggest franchises, with Chinese tech giant Tencent investing €1.16 billion for a 25% stake in that entity. [21]
This restructuring was framed as a way to “crystallise the value” of Ubisoft’s best assets and strengthen the balance sheet, but it has also fuelled ongoing speculation about the publisher’s long‑term independence, particularly given Tencent’s growing influence. [22]
How analysts and observers are reading the move
So far, Ubisoft has not disclosed any specific issue that would justify delaying its half‑year results, leaving analysts and market watchers to piece together their own theories — something management explicitly said it wanted to avoid.
A note cited by MarketScreener from broker Invest Securities warns that the suspension is likely to reinforce already negative investor sentiment, pointing to: [23]
- concerns around Ubisoft’s ongoing transformation into a new operating model,
- fears that recent instalments of Assassin’s Creed may underperform in an increasingly competitive environment, and
- unease about leadership changes around key franchises.
Industry analyst Daniel Ahmad suggested on social media that the delay “could indicate a major announcement”related to the company, such as a potential acquisition or other strategic transaction. At the same time, he cautioned that a more prosaic explanation — an accounting or financial issue slowing the close — is just as plausible. [24]
Gaming media coverage mirrors that split view. PC Gamer describes the situation as “strange,” noting that such last‑minute disruptions are seldom triggered by good news, but emphasizing that there is no concrete evidence yet of either a takeover or a regulatory problem. [25]
In short, there is a lot of smoke but no confirmed fire — and until Ubisoft publishes its numbers or announces a parallel strategic move, all scenarios remain speculative.
What this means for shareholders right now
For investors, the immediate implications are mostly practical and psychological:
- No trading on Euronext Paris: Shareholders currently cannot buy or sell Ubisoft stock or the specified bond lines on Euronext until the company and the exchange lift the suspension. [26]
- ADR volatility elsewhere: Trading continues in markets that list Ubisoft’s depositary receipts, where prices dropped sharply after the postponement news — an early sign of how nervous capital markets are about the lack of transparency. [27]
- Reputational hit: Even if the delayed results ultimately prove benign, the optics of a day‑of postponement and trading freeze can damage investor confidence, particularly for a company that has already warned on growth and is engaged in heavy restructuring. [28]
As always, anyone holding or considering Ubisoft stock should factor in their own risk tolerance, time horizon, and diversification — and be wary of trading on rumours before the company publishes verified numbers. This article is for information only and does not constitute investment advice.
What about employees, partners and players?
Inside the company, the sudden change of plans is likely unsettling but not entirely surprising given the recent wave of reorganisations, job cuts, and shifting priorities. Ubisoft employs around 17,000 people worldwide and has already been through multiple rounds of restructuring since 2023. [29]
For partners and licensors, the key concern will be Ubisoft’s ability to keep financing high‑budget projects and live services, especially if the eventual half‑year figures show weaker‑than‑expected cash flow or new write‑downs.
For players, the short‑term impact is more indirect. Games already released or close to launch should not be immediately affected by a reporting delay. Over the medium term, however, the company’s financial health will shape:
- how aggressively it can support content updates and DLC,
- how many risky new IPs it greenlights, and
- whether it remains an independent publisher or becomes part of a larger group.
All of those factors ultimately influence how many big Ubisoft productions fans see — and how ambitious they can be.
What happens next?
Ubisoft has promised to publish its postponed half‑year results “in the coming days” and to inform the market once trading is set to resume. [30]
When the figures finally appear, investors will scrutinise at least four things:
- Profitability and cash flow for the first half of FY 2025‑26, particularly any large impairments or restructuring charges.
- Net bookings and pipeline visibility across core franchises like Assassin’s Creed, Far Cry and Rainbow Six. [31]
- Updated guidance for the full fiscal year, especially after management had previously signalled flat or limited growth. [32]
- Any strategic announcements, such as new partnerships, asset sales or even early steps toward a broader transaction — though nothing of that sort has been confirmed so far. [33]
Until then, Friday’s trading suspension on Euronext locks in the status quo. The real verdict — on both Ubisoft’s numbers and its strategic direction — will only come when the company finally lifts the curtain on its half‑year results.
References
1. www.globenewswire.com, 2. www.reuters.com, 3. www.globenewswire.com, 4. www.globenewswire.com, 5. www.globenewswire.com, 6. insider-gaming.com, 7. www.reuters.com, 8. www.globenewswire.com, 9. www.globenewswire.com, 10. www.tradingsat.com, 11. www.pcgamer.com, 12. www.gadgets360.com, 13. www.gadgets360.com, 14. insider-gaming.com, 15. insider-gaming.com, 16. insider-gaming.com, 17. www.reuters.com, 18. www.lemonde.fr, 19. www.lemonde.fr, 20. www.lemonde.fr, 21. www.reuters.com, 22. www.lemonde.fr, 23. www.marketscreener.com, 24. www.pcgamer.com, 25. www.pcgamer.com, 26. www.globenewswire.com, 27. www.gadgets360.com, 28. www.gadgets360.com, 29. www.lemonde.fr, 30. www.globenewswire.com, 31. www.reuters.com, 32. www.gadgets360.com, 33. www.pcgamer.com
